Valued at $20,000, the prize is the second most lucrative annual art award in the state and attracted more than 200 entries to its most recent instalment.

Bay of Fires Art Prize director Chris Draffin said the prize was growing in numbers and reputation with each passing year.

“The value of these prize events is that it does offer exposure for all artists but it's valuable for emerging artists because it gets the attention of the galleries,” Mr Draffin said.

“Our judges have always been well-regarded, they're top of the line so when those people are saying 'this is good', that gets the attention of everybody else.”

STYLE: 2016 finalist Ben Miller. Pictures: Bill Henry

Committee member Carol Rollason said last year's prize had attracted entries from artists at both ends of the age spectrum.

“One of our finalists last year was a 17-year-old still in high school and she sold her work,” Ms Rollason said.

“Another example is a local artists in St Helens, she's a great grandmother but she's really only started doing art in the last couple of years... and she's now got a gallery in Hobart taking her work and she's selling (pieces) online about as fast as she can make them.”